*Sees Q3 refining capacity at mid-90 pct vs. 100 pct in Q2. July 29- Phillips 66 joined larger rival Valero Energy Corp in saying that refiners are expected to process less crude in the second half of the year as margins shrink due to a gasoline glut. "My personal view is we've got a lot of inventory stacked up," Chief Executive Greg Garland said on a post-earnings call. » Read More
Libyan rebels are set for their first oil export as soon as Tuesday as they seek funding to sustain their uprising against Muammer Gaddafi's 41-year rule of the north African nation, the Financial Times reports.
Before President Obama leaves for Rio, he'll be reading a letter signed by 20 Governors calling on the President for more energy options.
As governments around the world rethink nuclear power, with fears rife about leaking radiation at Japan’s earthquake-damaged plants, Steen Jacobsen, chief investment officer at Saxo Bank, recommends investors focus on Russia to benefit from its energy potential.
While oil – and just about everything else but Treasuries -- sold off today in the wake of the Japanese nuclear crisis, oil prices may be poised to surge as demand for 'alternative' energy sources to replace lost nuclear power in Japan ramp up.
The country’s second largest energy company, Chevron, will increase its natural gas investment this year and cut back on selling fuel globally, John Watson, chairman and CEO, told CNBC Monday.
Jittery traders sold pretty much everything Monday as the tragedy in Japan roiled global markets, but longer-term investors were looking at the move as a natural pullback likely to create opportunities.
Oil prices are driven by a supply shock rather than increased demand due to a stronger world economy, so investors in currencies look to "risk" rather than "macro" factors, David Bloom, global head of foreign exchange research at HSBC, wrote in a market note.
Tensions are high in Saudi Arabia in expectations of protests akin to the ones that have swept across the Arab World. CNBC's Yousef Gamal El-Din reports.
Reports of police firing on protestors in the Saudi Arabian city of Qatif evoke a possible nightmare scenario for the disruption of oil from a country that sits atop the world's largest proven oil reserves.
The unrest in the Middle East is coming in waves. The tidal wave it has created at the pump is taking a big bite out of consumers wallets. We hear about our nation's untapped oil reserves but with the "no new wells" policy there is no hope it can be explored.